Question

In 2007, 403,000 homeowners had their homes repossessed by their lending institutions. That number was up 48% from the number of homes that were repossessed in 2006. How

many homes were repossessed in 2006?

Answer 1

272298

Explanation:

Let's set the value of the homeowners in 2006 as x. Now we know, that the value of 2006 increased by 48 percent to 2007. Since the increase of anything with a percent is over 100, and this increased by 48 percent, we can simply multiply x by 148% or 1.48

1.46 x = 403000

x = 272297.297

Since this is talking about homeowners, and you can't have 0.2 of a homeowner, you round up to the nearest whole number, which is 272298